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Putin discusses measures to preserve Rosneft optimal investment volume with company CEO

President Putin noted that reducing the investment program of Rosneft this year by over $2 bln "is a lot"
Russian President Vladimir Putin and Rosneft CEO Igor Sechin Alexei Druzhinin/Russian Presidential Press and Information Office/TASS
Russian President Vladimir Putin and Rosneft CEO Igor Sechin
© Alexei Druzhinin/Russian Presidential Press and Information Office/TASS

NOVO-OGARYOVO, May 12. / TASS /. Russian President Vladimir Putin discussed state support measures to maintain the optimal investment volume of Rosneft with the head of Rosneft, Igor Sechin on Tuesday.

President Putin noted that reducing the investment program of Rosneft this year by 200 bln rubles, or over $2 bln (from 950 billion rubles, or over $12 bln a year earlier to 750 billion rubles, or over $10 bln) "is a lot." "It is very important for us to keep the entire chain of your contractors and subcontractors, because your orders provide work for a large number of industrial enterprises. What state measures are needed to support and keep your investment at the optimal volume?" the president asked Sechin.

The president also suggested discussing the topic of tariffs for transport monopolies, taking into account current prices in the oil market. Sechin asked President Putin to consider the possibility of deferral of tax payments in the field of geological exploration. According to him, this would help the company "in the future to be better braced to overcome the crisis."